- Points earned via Nexo services can be traded for 10 million NEXO in a pool.
As part of its “Nexonomics” campaign, cryptocurrency services provider Nexo has announced the airdrop of 10 million NEXO tokens, which are currently worth $12.6 million. Up until July 7, both new and current users can accrue points by using different Nexo products, such Earn, Borrow, and even funding the account.
Furthermore, obtaining points requires taking out loans during the campaign period. Then, beginning on July 10 and running through July 24, these points can be traded for NEXO tokens.
A 1.5x multiplier on points will be awarded to users who begin their points search this week; however, this multiplier will decrease with each subsequent week. Additionally, as of June 5, users will no longer receive a week multiplier; however, new users may still qualify for the 5x multiplier that is exclusive to new accounts.
For example, if a new user buys $2,000 worth of Bitcoin within the first week of the campaign, they will receive 450 points after deducting the Weekly Multiplier, New User Multiplier, and Purchase Value. The New User Multiplier is still valid for additional qualifying actions during the campaign after the first transaction.
Users that stack NEXO tokens can also receive a Loyalty Multiplier, which multiplies points by two.
Users should also be aware that certain acts have the potential to reduce their point balance. For instance, removing cryptocurrency holdings from a Nexo account will cost points.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
